Pakistan has committed 2,000 megawatts of electricity to bitcoin mining and artificial intelligence data centers, the country’s finance ministry said.
The committed energy is being directed from coal-fired power plants that are currently running at 15% capacity, Bloomberg reports, in an initiative spearheaded by the Pakistan Crypto Council.
By tapping surplus energy, the government hopes to turn a liability into an asset. Officials say the plan will create tech-related jobs and help attract overseas capital as the country works to stabilize its fragile economy, which came close to default in 2023.
Pakistan is also laying the groundwork for a regulatory framework to support its estimated 15 to 20 million cryptocurrency users.